Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2024

• 25 January 2024 8:34 pm

  PCE Data Preview: Forecasts by major banks, US inflation seen toward target

  

  Fed’s preferred inflation gauge, the Core Personal Consumption Expenditure (PCE), will be released by the US Bureau of Economic Analysis (BEA) on Friday, January 26 at 13:30 GMT and as we get closer to the release time, here are the forecasts of economists and researchers of eight major banks. Headline …

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• 25 January 2024 7:41 pm

  Lagarde looks optimistic about ‘disinflation process’

  

  The European Central Bank President, Christine Lagarde, has warned that rapid wage growth is slowing in the eurozone, with interest rates holding at 4%. According to Lagarde, disinflation process is at work, and the pick-up in inflation in December was weaker than expected. Lagarde also noted that price pressures would …

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• 25 January 2024 5:37 pm

  ECB holds key rates unchanged in January

  

  The European Central Bank (ECB) announced on Thursday that it has decided to maintain key interest rates unchanged following its January policy meeting. The interest rate on the main refinancing operations will stay at 4.50%, the interest rate on the marginal lending facility at 4.75%, and the deposit facility rate …

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• 25 January 2024 3:55 pm

  The Turkish Central Bank raises interest rates by 250 basis points

  

  In its initial meeting of 2024, the Turkish Central Bank opted to further raise interest rates by 250 basis points, bringing the new rate to 45%, aligning with market expectations. The decision, announced on Thursday, January 25, reflects the ongoing effort to curb inflation and stabilize the Turkish economy. The …

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• 25 January 2024 2:59 pm

  Dollar stabilizes in anticipation of US data and focus on the ECB

  

  The dollar was broadly stable near a six-week high on Thursday, as traders awaited US GDP data and other data this week for clues about where interest rates might be heading. At the same time, the euro saw some decline ahead of the European Central Bank’s monetary policy meeting later …

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• 25 January 2024 12:36 pm

  Gold is hovering near a one-week low amid the strength of USD

  

  Gold prices maintained their position near a one-week low on Thursday, as they grappled with the influence of a resilient dollar and escalating bond yields. The market’s focus was primarily directed towards the impending release of US GDP data and the outcome of the European Central Bank’s (ECB) monetary policy …

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• 25 January 2024 12:21 pm

  Oil rises amid decline in US crude inventories and stimulus hopes in China

  

  Oil prices experienced an upward surge on Thursday, driven by a combination of factors contributing to market optimism. Data revealing a substantial drop in US crude inventories, coupled with the Chinese central bank’s decision to reduce the reserve requirement ratio for banks, generated positive sentiment and heightened hopes for continued …

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• 25 January 2024 4:40 am

  Market Drivers – US Session, Jan. 24

  

  A growing appetite for riskier assets caused gold prices to retreat during the North American session, closing in on the $2010 area. The recovery of interest in the risk complex put pressure on the dollar and drove the EUR/USD pair above 1.0900. News of further stimulus in China from the …

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• 25 January 2024 4:28 am

  ECB Rate Decision Preview: Will ECB resist rate cut for longer?

  

  It is broadly expected that the European Central Bank will keep the interest rate unchanged this January at 4.00%, amid statements made by policymakers suggesting that it is still too early to talk about reducing interest.This scenario reinforces the European monetary authorities’ assertion that any future movement on the interest …

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• 25 January 2024 4:04 am

  Coinbase share loses almost 3% after Bircoin’s decline

  

  JPMorgan has downgraded Coinbase to underweight, citing the disappointing performance of Bitcoin ETFs. The launch of spot bitcoin ETFs last year was expected to lead to a new era for cryptocurrencies, with mainstream money expected to flood the space. However, the bank cut its rating to underweight from neutral, with …

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• 25 January 2024 2:42 am

  WTI surges into $75.50 after EIA report

  

  Crude oil prices surged on the energy markets after US supplies fell more than anticipated. The US’s crude stockpiles saw a sharp decline, but refined petrol saw an increase, according to the EIA. Logistics for crude oil were hindered by the cold, but demand is predicted to rise due to …

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• 25 January 2024 2:30 am

  Crypto Lender Nexo sues Bulgaria for $3 billion in damages

  

  A $3 billion arbitration lawsuit has been made against Bulgaria by cryptocurrency lender Nexo, which claims the nation has ruined its reputation and closed off business prospects. December 2023 saw a money laundering investigation into the company by Bulgaria’s prosecutor’s office, which allows the buying and selling of cryptocurrency. Claiming …

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• 25 January 2024 12:07 am

  US stocks rally on shining earnings

  

  Earlier in the session, the Nasdaq Composite had surged more than 1%; but, by the afternoon, gains had tapered off to roughly 0.5%. Not only did Netflix lead the way in strong profits, but other major tech companies like Microsoft and Meta also had increases in their stock prices.While the …

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